Multi-family

Prime Multi-Family Investment Opportunity in the Upper East Side

Address: 340 E 70th Street, New York, NY, 10021
Price: $8,900,000 ($1,483,333/Unit)
Cap Rate: 5.44%
Sale Type: Investment
Type: 3-Star Mid-Rise Apartment Building

Property Overview:

Located in the prestigious Upper East Side, 340 E 70th Street presents a rare investment opportunity in a high-demand residential market. This Class B mid-rise property features six residential units across four stories, offering stable rental income and long-term appreciation potential. With a strong 5.44% cap rate, this asset is ideal for investors seeking a high-value multi-family property in one of NYC’s most sought-after neighborhoods.

Key Features:

Prime Upper East Side Location:

• Situated in a highly desirable residential area, just steps from shopping, fine dining, and cultural attractions.
• Close proximity to Park Avenue, Madison Avenue, and Central Park, ensuring strong tenant demand.
• Surrounded by high-end residential buildings, retail stores, and major transit lines.

Well-Designed & Efficient Layout:

• Six residential units, each offering comfortable living spaces and modern amenities.
• Gross Building Area (GBA) of 7,060 SF, with a typical floor plate of 1,765 SF, ensuring efficient use of space.
• Four-story structure with a density of 150 units per acre, optimizing occupancy and rental potential.

Investment Potential & Market Appeal:

• 5.44% cap rate, providing stable returns and consistent rental income.
• Market-rate rental structure, allowing for rent increases and long-term appreciation.
• High-income tenant base, due to the property’s prime location and luxury neighborhood appeal.

Excellent Transit Access:

• Steps from major subway lines (4, 5, 6, F, Q, N, R, W), ensuring easy access across NYC.
• Close to major business districts, making it a preferred location for working professionals.

Highlights:

✔ $8,900,000 multi-family investment in the Upper East Side
✔ Six-unit, four-story mid-rise apartment building with market-rate rentals
✔ 5.44% cap rate, providing stable and attractive returns
✔ Prime location near Central Park, top-tier schools, and luxury shopping
✔ Convenient transit access, with multiple subway lines and business hubs nearby

Conclusion:

340 E 70th Street presents a unique opportunity for investors looking to acquire a high-yield, well-positioned multi-family asset in one of Manhattan’s most prestigious neighborhoods. With its strong rental income, high cap rate, and prime location, this property is ideal for those seeking a stable, long-term investment in the NYC real estate market.

Contact us today to schedule a private tour and explore this exceptional investment opportunity!